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Baltimore City, Maryland

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Baltimore City, Maryland Brief Economic Facts BALTIMORE CITY, MARYLAND New Yo rk Baltimore is centrally located in the Mid-Atlantic region with easy access via Washington, DC highways, port, rail and air travel, which Baltimore makes the city highly attractive to both residents and businesses. Baltimore has six key industry sectors that present Washington, DC further growth opportunities – financial and professional services, health and Baltimore City is located 39 bioscience technology, culture and tour- miles north of the U.S. capital, ism, information and creative services, Washington, D.C., and 97 miles logistics, and advanced manufacturing. south of Philadelphia. Approximately 2.8 million people live in Baltimore and its surrounding region. Major businesses located in the city include Under Armour, business and industrial parks. Baltimore is home to 12 colleges Pandora Americas, Legg Mason, Exelon and Morgan Stanley. and universities, providing an abundance of intellectual and The City’s private sector industries generate $36.7 billion in workforce talent. economic output. The Port of Baltimore and Foreign-Trade Zone #74 (FTZ) are More than 60 federal agencies and research labs are within 30 also significant economic engines for the region. The Port of miles, bringing substantial federal spending and jobs to the city. Baltimore is the number one roll-on/roll-off port in the U.S., Johns Hopkins University and Hospital is the largest recipient and FTZ #74 is a non-contiguous duty free area with more than of federal academic research dollars. The City has two state- 1,200 acres. These assets provide great benefits for conducting of-the-art biotechnology parks, as well as numerous other business globally. LOCATION POPULATION2,3 Driving distance from Baltimore: Miles Kilometers Baltimore City Baltimore Atlanta, Georgia 658 1,059 Households Population Metro* Maryland Boston, Massachusetts 397 639 2000 257,996 651,154 2,552,994 5,296,486 Chicago, Illinois 688 1,108 2010 249,903 620,961 2,710,489 5,773,552 New York, New York 186 299 2020** 254,259 616,300 2,851,100 6,141,900 Philadelphia, Pennsylvania 97 156 *Baltimore City, Anne Arundel, Baltimore, Carroll, Harford, Howard and Pittsburgh, Pennsylvania 225 362 Queen Anne’s counties **Projections Richmond, Virginia 144 232 Washington, DC 39 63 POPULATION DISTRIBUTION2,3 (2018) CLIMATE AND GEOGRAPHY1 Age Number Percent Under 5 37,992 6.3 Yearly Precipitation (inches) 41.7 5 - 19 101,677 16.9 Yearly Snowfall (inches) 20.2 Summer Temperature (ºF) 77.5 20 - 44 231,882 38.5 Winter Temperature (ºF) 37.8 45 - 64 146,557 24.3 Days Below Freezing 66.2 65 and over 84,387 14.0 Land Area (square miles) 80.3 Total 602,495 100.0 Water Area (square miles) 11.7 Median age 35.6 years Shoreline (miles) 61 Elevation (feet) sea level to 480 2019.2 Brief Economic Facts BALTIMORE CITY, MARYLAND LABOR AVAILABILITY3,4,5 (BY PLACE OF RESIDENCE) EMPLOYMENT4 (2018, BY PLACE OF WORK) Labor Mkt. Estab- Annual Avg. Emp. Avg. Wkly. Civilian Labor Force (2018 avg.) City Area* Industry lishments Empl. % Wage Total civilian labor force 289,758 1,233,616 Federal government 78 10,595 3.1 $1,678 Employment 273,304 1,183,088 State government 123 34,198 9.9 1,254 Unemployment 16,454 50,528 Local government 220 23,883 6.9 1,225 Unemployment rate 5.7% 4.1% Private sector 13,275 275,293 80.0 1,253 Residents commuting outside the Number Percent Natl. resources and mining 4 8 0.0 639 city to work (2013-2017) 104,631 38.3% Construction 762 11,068 3.2 1,314 Employment in selected occupations (2013-2017) Manufacturing 430 10,806 3.1 1,176 Management, business, science and arts 117,106 42.1% Trade, transportation 2,772 41,374 12.0 1,055 Service 57,638 20.7% and utilities Sales and office 60,717 21.8% Information 206 4,234 1.2 1,799 Production, transp. and material moving 27,679 10.0% Financial activities 1,275 16,267 4.7 2,928 * Baltimore City and Anne Arundel, Baltimore and Howard counties Professional and business 2,660 47,510 13.8 1,284 services Education and health 1,773 103,829 30.2 1,267 6,7 MAJOR EMPLOYERS (2018-2019) services Employer Product/Service Employment Leisure and hospitality 1,753 29,547 8.6 595 Johns Hopkins Hospital & Medical services 20,485 Other services 1,633 10,647 3.1 815 Health System* Total 13,969 343,970 100.0 1,264 Johns Hopkins University Higher education 18,600 Includes civilian employment only University of Maryland Medical services 11,450 Medical System* Univ. System of Maryland** Higher education 8,965 HOURLY WAGE RATES4 (2018) MedStar Health* Medical services 6,175 Selected Occupations Median Entry Experienced LifeBridge Health* Medical services 5,315 Accountants $33.42 $24.02 $42.43 Amazon.com Fulfillment center 4,500 Biological technicians 20.13 15.86 24.82 Mercy Health Services Medical services 4,030 Bookkeeping/accounting clerks 21.58 16.28 24.85 St. Agnes HealthCare Medical services 3,265 Computer systems analysts 43.14 29.77 51.42 Exelon Energy products, svcs. 2,950 Customer service representatives 17.46 12.86 20.93 Kennedy Krieger Institute Health services 2,600 Electrical engineers 55.08 32.98 70.03 Maryland Inst. College of Art Higher education 2,140 Electronics engineering technicians 33.58 23.26 34.88 Veterans Health Admin.*+ Medical services 2,060 Freight, stock and material 14.36 10.67 22.35 FutureCare Nursing care 1,710 movers, hand Morgan State University Higher education 1,700 Industrial truck operators 18.07 13.89 21.31 U.S. Social Security Admin.+ Income security prog. 1,600 Inspectors, testers, sorters 19.76 12.27 25.58 H&S Bakery Commercial food prods. 1,575 Maintenance workers, machinery 22.39 14.11 25.99 Under Armour HQ / athletic apparel 1,575 Network administrators 46.65 33.23 56.02 Broadway Services Support services mgmt. 1,540 Packaging and filling machine 14.47 9.84 16.13 operators Horseshoe Casino Casino gaming 1,360 Packers and packagers, hand 13.02 11.03 14.39 Loyola University Maryland Higher education 1,360 Secretaries 19.64 14.42 22.57 T. Rowe Price Group HQ / financial services 1,300 Shipping/receiving clerks 16.35 12.38 19.90 Excludes post offices, state and local governments, national retail and national foodservice; includes higher education Stock clerks and order fillers 11.41 10.24 14.61 * Includes multiple facilities Team assemblers 13.68 11.29 16.20 ** Includes UMB, UB and Coppin State University + Employee counts for federal and military facilities exclude contractors to the Wages are an estimate of what workers might expect to receive in Baltimore extent possible; embedded contractors may be included City and may vary by industry, employer and locality Brief Economic Facts BALTIMORE CITY, MARYLAND SCHOOLS AND COLLEGES3,8 INCOME3 (2013-2017) Educational Attainment - age 25 & over (2013-2017) Percent Households High school graduate or higher 84.2% Distribution Baltimore City Maryland U.S. Bachelor’s degree or higher 30.4% Under $25,000 29.5 14.2 21.3 Public Schools $25,000 - $49,999 23.2 17.1 22.5 Number: 39 elem.; 64 middle/combined; 20 high; 34 charter $50,000 - $74,999 16.8 16.5 17.7 Enrollment: 79,297 (Sept. 2018) $75,000 - $99,999 10.5 13.1 12.3 Cost per pupil: $15,376 (2017-2018) $100,000 - $149,999 10.9 18.7 14.1 Students per teacher: 16.1 (Oct. 2018) $150,000 - $199,999 4.5 9.7 5.8 High school career / tech enrollment: 9,514 (2017) $200,000 and over 4.6 10.7 6.3 High school graduates: 4,108 (July 2018) Median household $46,641 $78,916 $57,652 Nonpublic Schools Number: 125 (Sept. 2018) Average household $68,623 $103,845 $81,283 Higher Education (2018) Enrollment Degrees Per capita $28,488 $39,070 $31,177 2-year institution Total income (millions) $16,455 $226,495 $9,658,475 Baltimore City Community College 4,557 443 Major 4-year institutions 3,10 Coppin State University 2,738 479 HOUSING Johns Hopkins University 26,152 8,377 Occupied Units (2013-2017) 239,791 (47.4% owner occupied) Loyola University Maryland 5,645 1,699 Housing Transactions (2018)* Maryland Institute College of Art 2,181 572 Units sold 8,450 Morgan State University 7,712 1,475 Median selling price $139,723 Notre Dame of Maryland University 2,373 613 *All multiple listed properties; excludes auctions and FSBO University of Baltimore 5,041 1,454 University of Maryland, Baltimore 6,777 2,221 BUSINESS AND INDUSTRIAL PROPERTY6 Business and Industrial Parks TAX RATES9 Cross Roads Business Park Carroll Camden Industrial Park Baltimore City Maryland Hollander 95 Business Park Chesapeake Commerce Center Seton Business Park Johns Hopkins Bayview Corporate Income Tax (2019) none 8.25% Holabird Business Park Research Campus Base – federal taxable income Park Circle Business Park Personal Income Tax (2019) 3.20% 2.0%-5.75% * Biotechnology Parks Base – federal adjusted gross income Science + Technology Park at Johns Hopkins – 20 acres *Graduated rate peaking at 5.75% on taxable income over $300,000 University of Maryland BioPark – 12 acres Sales & Use Tax (2019) none 6.0% Business Incubators Maker Spaces Exempt – sales for resale; manufacturer’s purchase of raw materials; Baltimore Food Hub Baltimore Hackerspace manufacturing machinery and equipment; purchases of materials and Betamore Baltimore Node equipment used in R&D and testing of finished products; purchases BioInnovation Center Open Works of computer programs for reproduction or incorporation into BMore Kitchen another computer program for resale Emerging Tech.
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